Market activity on Thursday remained range bound with Nifty trimming losses in the last hour of trade on the back of short covering forcing Nifty futures to end in marginal positive terrain. The outlook for market from hereon has turned cautious due to sharp decline in USDJPY below 160 and GBPINR crossing all-time high mark of 107.90 which may trigger fresh round of selling from FIIs. We expect selling to aggravate on breach below 24,170 and Nifty has a potential to test levels of 23,500 which turns out to be 50 exponential moving average.
Results Today – HCL Tech
Nifty 50 Chart
Stocks to watch
Positive Read through
- TCS – CC sales grew 2.2% vs estimates of 1.5%, FY25 to be better than FY24.
- Indigo – Boeing notifies 737 Max customers of further delays, as per reports.
- Infosys – Bags order from Delaware Department of Labour.
- Anand Rathi – Posted healthy Q1FY25, achieved 96 pct of FY25 AUM guidance in Q1FY25.
- Adani Wilmar – To acquire 67% in Omkar Chem for Rs. 562 mn Enterprise value.
- Brigade – Launches 948-single bedroom project in Bengaluru, sales potential at Rs. 4 bn.
- Utkarsh SFB – RBI grants nod to Mirae Asset to increase its stake to 9.95 pct.
- Hudco – Both FIIs & DIIs raise stake in June quarter.
- LT Foods – Opens new facility in UK, eyes sales of POUND 100 mn in few years.
- Jio Fin – RBI approves application to convert company into a core investment company from an NBFC.
- Zee Ent – Board to consider fund raising on July 16.
- Azad Engineering – Gets 5-year contract from Germany’s Siemens Energy Global.
- Hindustan Zinc – Gets renewable power from Serentica’s 180 MW solar project.
- M&M – June total vehicle output at 69,045 units vs 64,092 units YoY.
- Varun Bev – PepsiCo clocks double-digit volume growth in Indian beverages market in June quarter.
Negative Read through
- GTPL Hathway – Sales fell 73 pct, margin tumbled by 200 bps YoY.
- Prestige Estates – Q1 pre sales slipped 22 pct, realisation grew by 16 pct YoY.
- Voda Idea – ATC Telecom Infra Converts remaining OCDs into shares of Rs. 1.6 bn.
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